Empty Capsule Market Scope
Market Research Future (MRFR) expects the empty capsule market 2020 to garner an approximate growth rate of 8.8 % between 2018 and 2023 (appraisal period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
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Top Boosters and Main Challenges
Since the COVID-19 outbreak and the rising attempt to find an effective treatment, various therapeutic measures are being taken around the world. One of the popular treatment options to control the pandemic is hydroxychloroquine, while the second option remains the consumption of antiviral drugs that help manage HIV. These treatment approaches have managed to boost the sale of advanced antimalarial and antivirals drugs, thereby enhancing the empty capsule market size. Since capsules disintegrate fast and allows quicker absorption, while the gelatin types are odorless and tasteless, their demand has grown even more since the SARS-CoV-2. Although lockdown has been imposed to control the spread of the novel coronavirus, empty capsules are still the main way of addressing the virus, therefore their demand has risen dramatically in the nutraceutical, cosmeceutical and pharmaceutical industries.
Technological innovations in the empty capsules market has resulted in an expanded functionality range for patients using capsules-based formulations. Capsule delivery has been observing a series of technological developments, in terms of better quality as well as patient comfort. Some technology-based innovations in recent years include enhancement of capsule shells, capsule-sealing techniques, capsule systems and fill material to facilitate altered drug release and encapsulation of various materials.
Another significant development in the market has been the capsule-in-capsule technology that helps coat the active ingredients that are gastric-sensitive. This enables reduced use of excipients in formulation, higher upper gastrointestinal safety, better pharmacokinetic efficiency, and enhanced product advancement. The emerging trend of plant-based capsules in the global market can also considerably impel the growth in the upcoming years. For instance, in August 2020, Catalent expanded its manufacturing units that produce the new softgel encapsulation ranges, with respect to CosmoPod twist-off capsule and Vegicaps plant-based capsule technologies. This move serves the purpose of catering to more consumers that are interested in plant-based, all-natural minerals and vitamins products.
Empty Capsule Market Segmentation
The empty capsule industry can be considered for raw materials, physical characteristics, certification and end user.
Depending on raw materials, the market caters to Non-gelatin, Porcine and Bovine.
The physical characteristics listed in the study include soft capsules as well as hard capsules.
Certification-wise market segmentation comprises non-halal certification, halal certification, and more.
With respect to end users, the key segments can be academic & research organizations, pharmaceutical industries, and others.
Empty Capsule Market Regional Insight
Asia Pacific/APAC, Europe/EU, the Americas and MEA/the Middle East & Africa are the key regions where the empty capsules can gain impetus at varying rates during the assessment period.
The market in the Americas is primarily split into North Americas and South America. The North American market is further considered for Canada and the US/United States. In general, the American market is the world leader, thanks to the rapid advancement of the cosmeceutical and nutraceutical industries and the mounting consumer awareness with regard to nutraceutical products. Some other factors that engender the market growth can be the fast growing health conscious population and the rising inclination towards various supplements.
As the second most profitable market, Europe has been segregated into Eastern Europe and Western Europe. Western Europe leads the regional market, with Germany, France and the U.K in the lead. The European market for empty capsules is progressing at a notable rate as a result of the thriving nutraceuticals industry and the rapidly growing cases of various diseases. The widespread leading capsule manufacturers with significant production capacity coupled with a massive number of renowned pharmaceutical companies have also induced market growth here. Apart from this, the regional market stands to profit from the increasing preference for superior and advanced pharmaceutical drugs as well as generics.
Asia Pacific is identified as the fastest gaining market for empty capsules, thanks to the mounting need for quality diagnostic devices, safer therapeutic approach, technological advancements and the existence of a vast pool of patients. The pharmaceutical industry in the region has been flourishing consistently, in light of the growing government support encouraging healthcare development. Besides, the escalating demand for cosmeceuticals and nutraceuticals in the wake of the soaring knowledge among people regarding fitness and wellness trends as well as the evolving lifestyles are also believed to be favoring the APAC market.
Empty Capsule Market Renowned Players
Some of the most renowned players in the global industry are Sunil Healthcare Limited, Julphar, Tabuk Pharmaceuticals, QUALICAPS, Capsugel, Medi-Caps Ltd, Neopharma, ACDIMA, ACG-Associated Capsules, Arab Caps, Roxlor, NecLife, to name a few.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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